April 20, 2022
I am highly alarmed by this new proposed rule that would effectively allow for Failure To Delivers (FTDs) to continue indefinitely. This does not benefit investors at all and is likely to be extremely harmful to retail.
Please do not allow this rule to pass and enable Security Financial Transactions to circumvent financial obligations of the FTDs. This proposed rule is not acceptable and creates an opportunity to harm retail investors and violates our right to a free and fair market.
In my opinion, this proposed rule should be denied and that similar rules are not proposed in the future, as iterations of this have been rejected in the past.
Thank you for your attention. I appreciate you honoring your obligations to protect investors from predatory behavior by financial institutions.